Archive : oil production

BASF SE, the world renowned chemical company, is quite upset because of tough market conditions, as the worldwide recession hurts the company’s earnings for 2008-09 more than what it was expecting. The company hasn’t estimated on this new outlook, but during November it dumped its target to go with the earnings of the previous year, Read more

After rising oil prices and persisting worries about the financial sector, stocks slowed down on Monday. The reason behind rising price was the disappointment that Saudi Arabia was not increasing oil production more than 200,000 barrels a day. On the New York Mercantile Exchange, light, sweet crude oil settled at $ 136.74 per barrel with Read more